Brookfield Emerging as ‘White Knight’ for SunEdison’s TerraForm
- Acquired 11.1 million Class A shares, giving it a 12% stake
- Approached SunEdison about buying controlling Class B shares
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Brookfield Asset Management Inc., Canada’s largest alternative asset manager, has emerged as a key investor in SunEdison Inc.’s TerraForm Power Inc. yieldco.
Brookfield, through various units, acquired almost 11.1 million of TerraForm’s Class A shares for about $98.5 million, according to a filing Wednesday. That gives it a 12 percent stake and makes the Toronto-based company the largest shareholder.